Precision Farming Equipment Market (Hardware - Sensor, Drones, ASS, Mobile Devices, GPS, and Others; Software - Web Based Deployment Systems, and Cloud-Based Deployment Systems; Service - Consulting & Training, Maintenance & Support, Managed Services, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. The global precision farming equipment market is projected to grow at a CAGR of 13.4% over the forecast period of 2019-2025.
Pune, India -- (SBWIRE) -- 04/10/2019 -- The latest report on Precision Farming Equipment Market by Infinium Global Research gives complete coverage of the Precision Farming Equipment Market by hardware (sensor, drones, ASS, mobile devices, GPS), software (web-based, cloud-based deployment systems), service (consulting & training, maintenance & support, managed services) in terms of key trends, market size, forecast, Industry Analysis, Trends, Size, Share, Forecasts to 2025 and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Precision Farming Equipment such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global precision farming equipment market is projected to grow at a CAGR of 13.4% over the forecast period of 2019-2025.
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Precision Farming Equipment Market: Market Insight
Precision farming, satellite farming or site-specific crop management (SSCM) is a farming management concept based on observing, measuring and responding to inter and intra-field unpredictability in crops. The goal of precision farming is to define a decision support system (DSS) for whole farm management with the goal of optimizing yield on inputs while preserving resources.
Precision Farming Equipment Market: Drivers and Restraints
The increase in the population leads to an increasing demand for improved agricultural productivity globally, which is driving the global precision farming equipment market. Rising labor costs result in the shortage of labor on farms which in returns increase the demand for precision farming. In addition, the availability of limited cultivable land, the fluctuating trend towards organic food, and distresses about the scarcity of natural resources are some factors that contribute to the growth of the market. However, the high cost of the equipment and lack of awareness regarding the use of agriculture devices among the farmers are some of the factors hindering the growth of the global precision farming equipment market.
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Precision Farming Equipment Market: Segmentation
The global precision farming equipment market is segmented based on hardware, software, and services. The hardware market segment is further classified into sensors, drones, ASS, mobile devices, GPS and others. The software market segment is further divided into web-based and cloud-based deployment systems. The services segment is further classified into consulting and training, maintenance and support, managed services and other professional services. Sensors are the dominating segment on the basis of hardware. The increasing utility of various types of sensors for remote sensing applications and increasing integration of farm management systems with various sensor-based systems is expected to push the sensors segment of precision farming equipment market. The cloud-based software system is poised to have considerable growth in the software segment of the global precision farming equipment market. Cloud allows storage of crop-related information, which can be further accessed by farmers using their smartphones. Weather conditions can also be sourced from various cloud-based applications and service providers. On the basis of services, the managed services segment will exhibit significant growth due to the growing popularity of cloud computing technology.
Precision Farming Equipment Market: Regional Insight
Geographically, the global precision farming equipment market is divided into four regions North America, Europe, Asia Pacific, and RoW. North America has the largest market share for precision farming equipment followed by the Asia Pacific region. Advancement in technology, limited availability of cultivatable land and rising environmental concern are driving factors for the growth of precision farming equipment market in the North American region. In Asia Pacific region, increasing demand for food and other dairy products due to increasing population in countries such as India, China, and other Asian countries has resulted in the growth of precision farming equipment market.
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Precision Farming Equipment Market: Competitive Analysis
AGCO Corporation, Ag Leader Technology, AgSense LLC, AgSmarts Inc, CropMetrics LLC, CropX, Deere & Company, Dickey-John Corporation, Monsanto Company, and Trimble Navigation Limited are among the other key players in the global precision farming equipment market.
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Precision Farming Equipment.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.